Hashdex Submits Proposal to SEC to Create Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF)

The proposed ETF, named Hashdex Nasdaq Crypto Index US ETF, aims to offer investors exposure to the two leading cryptocurrencies, reflecting their distribution in the Nasdaq Crypto Index.

Cryptocurrency firm Hashdex has filed a proposal with the U.S. Securities and Exchange Commission to launch an exchange-traded fund that will track both Bitcoin and Ethereum. The Hashdex Nasdaq Crypto Index US ETF will provide investors with exposure to the two leading cryptocurrencies, reflecting their distribution in the Nasdaq Crypto Index.

The ETF will comprise roughly 70.54% Bitcoin and 29.46% Ethereum, following a market-cap-weighted strategy that aligns with the broader cryptocurrency market as represented by the Nasdaq Crypto Index.

This move is part of a larger effort to integrate digital assets into traditional financial instruments, potentially expanding the accessibility of cryptocurrencies to a broader investor base. The fund will be supported by custodians Coinbase Custody Trust Company and BitGo Trust Company and will hold cash reserves.

Initially centered on Bitcoin and Ethereum, the ETF may consider adding other digital assets down the road, subject to SEC approval. This proposal comes amid a favorable regulatory landscape, following the SEC’s approval of Bitcoin spot ETFs and the expectation of Ethereum ETFs being introduced in the U.S. market.

SEC Chair Gary Gensler recently told a Senate committee that ETFs linked to Ethereum could start trading by this summer.

News source：https://www.kdj.com/cryptocurrencies-news/articles/hashdex-submits-proposal-create-bitcoin-btc-ethereum-eth-exchangetraded-fund-etf.html

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